Gold standard, question mark?

The Republican Party is in the process of setting up a “gold commission” to monitor the Fed’s monetary policy decisions and revive the link between the dollar and gold. Excuse me, says you. Indeed, says I. It looks a lot like areturn to the gold standard. Thanks, Ron Paul. And it’s getting better:

Inflation has remained under control in recent years, despite claims that expansion of the Fed’s balance sheet would lead to runaway price rises, while gold has been highly volatile. The price of the metal is up by more than 500 per cent in dollar terms over the past decade.

Somebody add an economic history book ( to that order of biology books that is being sent to Florida. read article

Glenn Maud, formerly of the real estate investment firm Propinvest, which entered into administration in November 2011, now has his expenses watched by the Royal Court of Guernsey. Indeed, the poor man who owns windows and door frames of Canary Wharf’s Citi Tower and Santander’s Madrid headquarters, is now required to keep his living expenses under £500 a week. As a journalist, I sympathize. Plus, hookers are expensive. There’s nothing worse then running out of £100 notes on a fucking Tuesday morning.

The Greek Prime Minister Antonis Samaras is on the road in Western Europe: he is meeting Merkel today, Hollande tomorrow, and the day after that the queen’s child comes in. Both Merkel and Hollande, who previously had next to nothing in common, agree that Greece has to stay committed to the bailout terms and conditions. That’s really not too crazy a thing to ask. read article